What if I sell less than 100 stocks shares on NYSE, is there a penalty fee?
What if I sell less than 100 stocks shares on NYSE, is there a penalty fee?
No. Your order will be combined with others to form a 100 share lot. No additional fees apply. At least that's the case at Ameritrade.
You will pay a commission on the trade as usual.
If you sell the stock at a loss then there's a penalty (for a capital loss).
If you sell the stock after holding it less then a year, there is a higher capital gains tax rate.
What is an 'Odd Lot'
An odd lot is an order amount for a security that is less than the normal unit of trading for that particular asset. Odd lots are considered to be anything less than the standard 100 shares for stocks. Trading commissions for odd lots are generally higher on a percentage basis than those for standard lots, since most brokerage firms have a fixed minimum commission level for undertaking such transactions.
http://www.investopedia.com/terms/o/oddlot.asp#ixzz4RWyZaq8n
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